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Thursday, October 19, 2006

Crude Oil Price Jump

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Prices jumped after OPEC sprung a surprise production cut of 1.2 mln barrels a day, bigger than what the market was expecting.

New York's main contract, light sweet crude for November delivery, was last traded at $58.99 per barrel, up $0.49 from its $58.50 closing price overnight in New York.

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